The private pension fund administered by Commercial Union Poland has been acknowledged as the best pension fund by the business daily Parkiet, thanks to the remarkable performance of its investments recorded in 2007.
The private pension fund administered by Commercial Union Poland has been acknowledged as the best pension fund by the business daily Parkiet, thanks to the remarkable performance of its investments recorded in 2007.
The award was presented to the director general of Commercial Union Poland, Michał Szymański, during a prize-giving ceremony held on 5 February 2008 at the Warsaw Stock Exchange.
Participating in the prize-giving ceremony were Poland's Ministers of Finance and the Treasury, the assistant minister of the economy and the chairman of the Polish Stock Exchange.
Michał Szymański, CEO of Aviva Poland stated: "Good co-ordination by the members of the investments department and the quality of the analysis carried out were the key to the success of our pension fund. We invested in banks with an efficient sales force, thus benefiting from the positive macroeconomic environment recorded in the financial sector."
The return on the pension fund administered by Aviva Poland was +7.18% over the whole of 2007, this being the highest return recorded by any of the 14 mandatory pension funds in the Polish market. This result was achieved against the backdrop of a turbulent economic
environment, which in the first half of 2007 recorded an increase in the price of shares, followed by adjustments and a high degree of uncertainty in the second half of the same year.
Eugen Voicu, CEO Aviva Administration Company for a Private Pension Fund SA, says the following in connection with this: "Our objective in the Romanian market is similar to that in Poland; we will focus on obtaining superior returns. This is also the reason behind Aviva Romania's acquisition of the Certinvest investments administration company, which has a wealth of local experience and which will be complemented by the support of the other companies that make up the group."
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The point of contact for further information:
Giliola Ignat, Advertising & PR Manager
Telephone: 021 203 83 73
E-mail: giliola.ignat@aviva.ro
Note for editors
About the Aviva group
Aviva is the oldest insurance group in the world and the largest in Great Britain, dating back to 1696. Today, Aviva has 59,000 employees and 40 million customers in 27 countries across the world.
The group is the market leader for life insurance and pensions in Europe, leading on the majority of the markets in which it operates.
Aviva has revenue from insurance premiums and investments totalling 61 billion euros and administers over 535 billion euros' worth of funds.**
Aviva Romania
Aviva Romania includes three companies: Aviva Life Insurance, Aviva Administration Company for a Private Pension Fund, Certinvest (purchased on 13 September 2007).
About Aviva Life Insurance and Aviva Administration Company for a Private Pensions Fund
Aviva began operating as a provider of life insurance in Romania in 2000 and currently insures over 430,000 customers.
On 26 July 2007, Aviva received approval from the Oversight Committee for the System of Private Pensions to set up a company to administer private pensions (Aviva Administration Company for a Private Pension Fund SA), and on 25 August received authorisation to administer its mandatory pension fund - Pensia Viva.
About Certinvest
Certinvest currently administers 24 million euros in four mutual funds, each of them based around a different type of investment: Intercapital - a shares fund, Capital Plus - a balanced fund, Orizont - a fixed-income (bonds) fund and Tezaur, a capital market fund. Certinvest also administers individual investment accounts.
Certinvest has shown throughout the years that it is one of the most dynamic and innovative administrators in the market. The company launched the first commission-free sales fund on the Romanian market (Tezaur) and the first bonds fund in Romania (Orizont). Certinvest is also proud to support the bull market for investment funds in Romania.
* in terms of new sales in 2006
** at an exchange rate of 1 GBP / 1.47 EUR